Gift credit matching engine

Abstract

A system and method to facilitate exchange of unwanted gifts is disclosed herein. A user may submit an unwanted gift in exchange for another gift item or a gift credit. Potential exchange gifts from among other unwanted gifts matching certain criteria are identified and presented to the user for selection. If the user does not find the potential exchange gifts to his liking, a gift credit having a value comparable to his / her submitted unwanted gift is issued to his account. As other users submit their unwanted gifts and / or as the value of the user's gift credit changes over time, the user may receive notification of new potential exchange gifts to choose from.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS[0001]The present application relates to U.S. patent application entitled “Gift Incentive Engine,” Attorney Docket No. 324212024600, filed on the same date herewith.BACKGROUND[0002]The present invention relates to gift giving and exchanging. More particularly, the present invention relates to intelligent gift giving by taking into account the different needs of the involved parties at different points in the gift giving process as well as the preferences and needs of the gift recipient in selecting appropriate gifts and in handling unwanted gifts.[0003]Gift selection and giving is a complex process. There are multiple parties involved at different points in the gift giving process—for example, there is at least a gift giver, gift recipient, gift vendor / merchant, and there may also be gift registers, party or event organizers or other related parties. Each of the parties has different motives, expectations, and information about the gift giving ...

AI Technical Summary

Benefits of technology

[0009]A gift exchange engine provides a distributed web application for managing posting, valuation, matching, re-distribution / exchange, and redemption of unwanted new or used gifts. A barter exchange marketplace is provided that does not evoke tax incurring economic activity. Real-time matching of available gifts to new gift recipients occurs using user profiling, gift characteristics, user requests, and interest-based marketing, facilitating better social utilization of gifts without the negative connotations associated with re-gifting. Unwanted gifts may be dynamically valued relative to each other, current market conditions, and / or relative to relevant users, all of which facilitates successful downstream consumption of unwanted gifts. Gift recipient offering his / her unwanted gift to the system may receive a gift credit (possibly for later redemption) and / or may select an exchange gift item from among the selections proposed by the system. Leveraging the wealth of information known abut the gift recipient, unwanted gift, potential exchange gifts, and / or other factors relating to the particular gift exchange, the system may also determine a matching advertisement or incentive to present to the gift recipient along with the potential exchange gift selections. Such advertisement or incentive is likely to be highly relevant, and accordingly the sponsor of the advertisement or incentive is more likely to pay a placement premium.

Problems solved by technology

Gift selection and giving is a complex process.

Given such complexities, it is not uncommon for the gift giving experience to be less than satisfactory for the parties involved.

Given the stigma attached to gifting a received gift to another person, commonly referred to as re-gifting, the gift may not be used by anyone and the value of the gift is lost to society as a whole.

Even potential gift vendors / merchants, who may be in a position to guide the gift giver in selecting a suitable gift, are not aware that a gift giver is searching for a gift and thus unable to better contribute to the gift giving process with information or incentives.

Attempts to make the gift giving process more transparent are less than successful.

For example, having the gift recipient specify a gift to eliminate uncertainty in gift selection removes the element of surprise and may also obligate the gift giver to an uncomfortable price point or type of gift.

Such explicitness can also devalue the gift and / or the entire gift giving process.

Since the gift giver typically seeks out a gift merchant after a gift selection has been made, gift merchants lack the opportunity to aid in gift selection and / or purchase.

For example, gift merchants, advertisers, or sponsors are unable to differentiate or personalize targeting for specific gift occasions, gift recipients, or gift givers.

As such, a significant number of gifts go unwanted and unused—representing a great deal of inefficiency and waste of resources.

Re-gifting or selling has a negative social connotation that discourages transparent secondary markets.

Even if a gift exchange or marketplace exists, accurate valuation of gifts is difficult, especially relative to the gift recipient and / or downstream consumers, and the relative relatedness of the users in the exchange is not taken into account.

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